Career Resource Center Archive
Wednesday, December 12th, 2007
Type of loan where money is doled out as construction takes place; borrower must obtain a permanent long-term mortgage from another source to repay the construction loan. Also called an interim loan.
Wednesday, December 12th, 2007
Something of value, usually money, given to induce another to enter into a contract.
Wednesday, December 12th, 2007
Type of housing where buyers own their units outright, plus an undivided share, or joint ownership, in the common elements of the building or community.
Wednesday, December 12th, 2007
A method of determining home value that looks at recent home sales, homes presently on the market, and homes that were listed but did not sell.
Wednesday, December 12th, 2007
Properties similar to a specific piece of property that are used to help estimate the value of that property.
Wednesday, December 12th, 2007
Parts of a condominium, cooperative, or private home association shared by all residents, so that each unit owner holds an undivided interest in, for example, the hallways, parking facilities, or swimming pool.
Wednesday, December 12th, 2007
Payment, or brokerage fees, given by the seller of a property to a real estate agent for services rendered. Usually paid at the closing.
Wednesday, December 12th, 2007
Mixing of a clients' funds, or escrow, with an agent's personal funds in an account; considered to be grounds for the suspension or revocation of the broker's real estate license.
Wednesday, December 12th, 2007
Something of value given or pledged to a lender as security for the repayment of a loan.
Wednesday, December 12th, 2007
Defect in the title that impairs the owner's ability to market the property. This might be a lien, claim, judgment, or encumbrance.
